07-18-2022, 12:37 PM
Survey Reveals a High Crypto Adoption Rate among Saudi Arabians
<p>KuCoin, a major cryptocurrency exchange, has unveiled a new survey revealing a high penetration of the cryptocurrency market among Saudi Arabians.</p><p>According to the findings, approximately 3 million Saudi Arabians aged 18-60 own cryptocurrencies or have traded in them over the past six months, which is 14% of the adult population. A further 17% of adults are considered crypto-curious and likely to invest in cryptocurrencies in the next six months, according to the survey.</p><p>Among potential crypto investors in the Arab nation, the report’s findings demonstrate sustained interest. The first quarter of 2022 saw 49% of crypto investors intending to increase their investments in cryptocurrencies.</p><p>During the second quarter of 2022, investor sentiment shifted toward more conservative strategies related to holding cryptocurrencies due to the bearish market. The second quarter of 2022 saw 31% of Saudi Arabian crypto owners maintain their balances rather than increase their investments. A portion of the portfolios of investors with lower income was sold off during this time period.</p>New Entrants<p>Saudi Arabia has a high percentage of new entrants to the crypto market, with 76% of crypto investors having less than one year’s experience, including 49% who first traded cryptocurrencies in the previous six months. This indicates a need for crypto education in the market. 44% of investors believe cryptocurrencies can provide greater returns in the long run than other types of investments, according to 51% of crypto investors.</p><p>The report noted: “42% of Saudi crypto investors say they plan to use the profits to improve their families’ living conditions. Other goals include buying a new house, saving for retirement or emergency fund and spending on other enjoyments, such as travelling and shopping. In addition, 15% of crypto investors hope to live on the income from a crypto investment to be spared from work. Many are using the gains from crypto investment to grow their portfolio and reinvest, especially male crypto investors. 29% of crypto investors plan to start their businesses with gains and 28% intend to reinvest the money into the financial market.”</p>
This article was written by Felipe Erazo at www.financemagnates.com.
https://www.financemagnates.com/cryptocu...-arabians/
<p>KuCoin, a major cryptocurrency exchange, has unveiled a new survey revealing a high penetration of the cryptocurrency market among Saudi Arabians.</p><p>According to the findings, approximately 3 million Saudi Arabians aged 18-60 own cryptocurrencies or have traded in them over the past six months, which is 14% of the adult population. A further 17% of adults are considered crypto-curious and likely to invest in cryptocurrencies in the next six months, according to the survey.</p><p>Among potential crypto investors in the Arab nation, the report’s findings demonstrate sustained interest. The first quarter of 2022 saw 49% of crypto investors intending to increase their investments in cryptocurrencies.</p><p>During the second quarter of 2022, investor sentiment shifted toward more conservative strategies related to holding cryptocurrencies due to the bearish market. The second quarter of 2022 saw 31% of Saudi Arabian crypto owners maintain their balances rather than increase their investments. A portion of the portfolios of investors with lower income was sold off during this time period.</p>New Entrants<p>Saudi Arabia has a high percentage of new entrants to the crypto market, with 76% of crypto investors having less than one year’s experience, including 49% who first traded cryptocurrencies in the previous six months. This indicates a need for crypto education in the market. 44% of investors believe cryptocurrencies can provide greater returns in the long run than other types of investments, according to 51% of crypto investors.</p><p>The report noted: “42% of Saudi crypto investors say they plan to use the profits to improve their families’ living conditions. Other goals include buying a new house, saving for retirement or emergency fund and spending on other enjoyments, such as travelling and shopping. In addition, 15% of crypto investors hope to live on the income from a crypto investment to be spared from work. Many are using the gains from crypto investment to grow their portfolio and reinvest, especially male crypto investors. 29% of crypto investors plan to start their businesses with gains and 28% intend to reinvest the money into the financial market.”</p>
This article was written by Felipe Erazo at www.financemagnates.com.
https://www.financemagnates.com/cryptocu...-arabians/